Get the weekly summary of crypto market analysis, news, and forecasts! This Week’s Summary The crypto market ends the week at a total market capitalization of $1,09 trillion. Bitcoin is up by over 2% to reach around $27,200. Ethereum increased by nearly 6% to close to $1,700. XRP gained almost 2% in value during a highly volatile week. Almost all altcoins are trading in the green, with virtually no exceptions. The DeFi sector maintains the total value of protocols (TVL)…
As a new cryptocurrency trader, there are many options to choose from. The market is hot right now, and selecting the right exchange for your trading activities will help you save on fees and secure higher ROIs. Notably, not all exchanges are created equal. Today, there are different types of exchanges. Each exchange has its options, features, and fee structure. Here are the best exchanges to start trading cryptocurrency.
Bitstamp is another experienced exchange that has offered services to the crypto community since 2011. As one of the first exchanges to service the EU market, Bitstamp has managed to carve out a valuable niche in the market. Part of the firm’s success can be attributed to its competitive fee structure. All purchases under $20,000 pay a 0.25% fee.
Bitstamp employs a variety of technologies to keep your crypto safe from hackers. The network was one of the first exchanges to support multi-signature (multisig) technology. Multi-sig wallets require multiple keys before approving any transfer of funds. This style of wallet is ideal for financial institutions and businesses. The network also supports 2-factor authentication on withdrawals. When your crypto is loaded on the account, it is kept in cold storage as an extra precaution.
Read the full review of the Bitstamp exchange.
The Gemini Exchange is the brainchild of two dynamic Bitcoin billionaires and twins, Cameron and Tyler Winklevoss. Gemini is a smart option for new traders because it offers lower fees than some of the larger crypto exchanges on this list. Additionally, it’s a fully regulated platform.
Gemini provides new users with a regulated fiat on-ramp. Users can fund their accounts in various ways, including bank transfers, debit, and credit cards. Also, users gain an extra layer of security, knowing that the exchange has never been successfully hacked. Additionally, all users’ funds remain in cold storage until in use.
The exchange offers discounts for large-scale investors and on high-value orders. Best of all, your fiat deposits are FDIC insured against loss. These factors make Gemini a safe start for any crypto trading activities.
Read the full review of the Gemini exchange.
Poloniex is a fully regulated digital assets exchange that supports many coins. Impressively, Poloniex users can trade over 110+ cryptocurrencies at this time. Notably, not all cryptocurrencies are available to all users. If you live in a region where a specific coin is not approved, the network will automatically remove it from your trading options.
Poloniex became a leading cryptocurrency exchange over years of reliable service. Poloniex is one of the earliest trading platforms, like the previous two exchanges. But, impressively, this exchange was also the first crypto company to seek regulatory approval from FinCEN actively.
Read the full review of the Poloniex exchange.
Luno is a high-performance crypto exchange that offers a nice selection of coins and an intuitive trading window. The network is known for its high-security features and deep liquidity. In addition, users can access simple order placement and high-quality charting tools when using Luno. The exchange is available online and via a mobile app.
The developers behind this exchange took great care to remove technical barriers. The intuitive user experience enables smooth, efficient trading across various digital assets. Additionally, the added liquidity ensures that all traders enjoy tight spreads. Importantly, Luno keeps 95% of users’ crypto in multi-signature wallets protected by many layers of encryption.
Luno also supports advanced APIs to streamline your market management and trading activities. The API allows anyone to manage an account via bots or other third-party systems programmatically. APIs also allow you to make trades and retrieve real-time market data.
Robinhood is a free-trading app that can be credited as a major on-ramp into the blockchain sector. The network is unique because few stockbrokers provide the opportunity to trade cryptocurrencies. Robinhood crypto allows users to buy and sell cryptocurrencies without fees and trade 24/7.
Robinhood is a smart exchange for new users who want to trade small quantities of cryptocurrencies. Users have instant access to deposited cash on the platform. In addition, there are no minimum account balances, so new users can start trading on the network immediately.
The concept of free trade makes Robinhood a great option for cost conscience traders. New traders appreciate this established platform’s notoriety, liquidity, and security. Additionally, the Clearing by Robinhood service reduces some of the service’s account fees because the clearing occurs in-house.
Read the full review of the Robinhood exchange.
Coinmama was established in 2013 and is registered in Slovakia. This non-custodial exchange offers users the ability to trade directly from their wallets. The network features instant coin delivery, multiple payment options, and high spending limits. Additionally, the exchange serves a global audience. Coinmama is available in 200+ countries, including 24 American States.
Coinmama remains a wise option for new traders due to its easy user-Interface and high-security measures. Additionally, the network features 24/7 customer service, and you can buy cryptocurrencies directly with fiat currency. Coinmama users can get their crypto questions answered and further their investment strategy by utilizing this network.
Hitbtc is a popular cryptocurrency exchange with unique features that make it ideal for traders of all skill levels. There are three account levels Hitbtc users choose between – Starter, Trader, and Pro. Each account requires slightly more documentation. In return, your trading limits and withdrawal limits rise.
Hitbtc provides users access to a helpful Demo Mode. Here you can get familiar with all the website’s features. Your demo account is filled with (paper) 2000 USDT for practice purposes. You can then use this money to devise a trading strategy that works for you. Best of all, you can get familiar with all the fees and options.
Hitbtc follows a traditional maker-taker fee model. Maker fees start at 0.1%. The fee structure is designed to lower your rates based on your trading volume. Impressively, if you can achieve a monthly trading volume of 100 000 BTC, the network rebates you for providing liquidity.
eToro is a hybrid exchange. The network officially began as a Forex and EFTs exchange. Last year, the network expanded into the crypto market. EToro operates in more than 140 countries and lists millions of active users. Additionally, the network carried its powerful trading tools into the blockchain sector.
Traders like eToro because it’s reliable and features a robust toolset. This platform is smart for new traders because of its limited coin selection and unlimited demo accounts. Users can master their trading skills using real charts in the demo mode. Then, you can go active when you have what it takes to profit.
Read the full review of the eToro exchange.
Top Exchanges to Start Trading Cryptocurrency
No matter what style of trader you seek to become, the exchanges listed here will surely give you a great start. The crypto market is still new, and many risks must be considered before trading. However, stick to the exchanges listed, and you can cross off finding a secure and reputable platform for your concerns.